It’s up to Amazon and Google where the market goes next

DPR Update:  No trade

Amazon and Google report after the bell and will most likely dictate the short term direction of the Nasdaq at least.  The index had an “A frame” reversal today after doing so well on Facebook’s record earnings. Around 2pm it came tumbling all the way back down to create a new multi-day low which stopped me out.

Now the system will wait for a bottoming out of this move.  As it stands, in my estimation the selling is not over yet and a short term high is in place.

Good trading,

John